Links in “Agencies”
- NCUA Board Action Proposal on Eliminating Fixed Assets Restrictions
The NCUA's third open meeting of 2015 approved the proposed regulatory relief effort to eliminate certain provisions in the agencyâs fixed-assets rule, including the current five-percent cap on investments in fixed assets. The move is seen as reducing the NCUA's micro-managing of CUs seeking to upgrade facilities, update technology, or purchase other fixed assets. [3/20/2015]
- Report Addresses How the CFPB Can Fix Diversity Issues
Office of Inspector General released a report addressing how the CFPB can address diversity and inclusion efforts since it came under fire for shortcomings in its opportunities for minorities and women. The recommendations include training, better data tracking, greater accountability, and stronger succession planning. [3/19/15]
- Don’t Put That Bailout Money Bag Away Just Yet
FHFA's inspector general reports that Fannie and Freddie, which the US government took over in 2008 and bailed out to the tune of $187.5 billion, may need additional funds due to decline profits and capital cushions. [3/19/15]
- ACAMS Speaker Szubin Emphasizes Cooperation and Transparency
Adam Szubin, Under Secretary for Terrorism and Financial Intelligence at the Treasury Department, recently spoke at the ACAMS Anti-Money Laundering and Financial Crimes Conference. Topics included cooperation and transparency, as well as updates on Cuba and other general matters. [3/18/15]
- The Hottest of Hot in Cyber Security
Find out what the FFIEC considers to be the top priorities for the rest of 2015 in regards to cyber security. Spoiler: the release of a risk assessment tool tops the list! [3/18/15]
- Field-of-Membership Comments Requested
With social media and online banking on the rise, NCUA's Rick Metsger explains the need to update field-of-membership regulations. An email address, FOMSuggestions@ncua.gov, has been created specifically for comments and suggestions regarding this topic. [3/18/15]
- CFPB Considers Consumers’ Credit Card Concerns
The CFPB is launching a public review of how the credit card market is functioning and whether or not it's meeting the needs of consumers. The CFPB is particularly interested in understanding how credit card protection programs affect consumers; all public comments are welcome. [3/18/15]
- Paradigm Shift: Moving from Boots-on-the-Ground to Expertise-on-Demand
Increasingly complex and onerous, compliance requirements are straining the resources of all credit unions and the regional credit union associations that support them today. The do-it-yourself model is beyond the capacity and ability of most smaller shops. But the outsourced boots on-the-ground, face-to-face model has become grossly inefficient and expensive. [3/17/15]
- Thieves Going Phishing
A recent scam is using a website and logo similar to those of the NCUA to gain personal information and steal money from consumers. The NCUA warns that this website has no affiliation, and consumers should beware of similar schemes to gain personal information or money. Those affected by this scam may contact the NCUA's Fraud Hotline toll-free at (800) 827-9650. [3/17/15]
- Arbitration Study Released
The CFPB recently released a report on its much-anticipated Arbitration Study. The study addresses the use of pre-dispute arbitration provisions in connection with consumer financial products and services. The CFPB may use this report in the future to enact regulations to restrict, or even ban, the use of pre-dispute arbitration clauses. [3/17/15]
